Yesterday we talked about the advantages of choosing an online business model over brick-and-mortar, face-to-face business models. All online businesses are not created equal, however. Your choice of online business model can have a huge impact on future success. You’ll want to choose a model that matches your skills, your character, and your lifestyle. The following are 5 of the best online business models you can consider to secure financial freedom.
Disclosure: Links in this post (and anywhere on The Savvy Solopreneur) may be affiliate links. Find out what that means here.
Blogging
Blogging is still one of the best ways to make money online. Blogging takes consistency to work, and the results can take a while to materialize, but there are many bloggers making a good living online. Even if it is not going to be used as your primary form of income, having a blog is a good way to promote your other business or to bolster your reputation. Coaches, freelancers, and network marketers can all find that a blog helps promote their main business. Once a blog generates enough traffic, it can be monetized using affiliate marketing or paid advertising.
Great blogging resources:
The Busy Blogger’s Success Kit (get yours half-price)
Affiliate Marketing
You can make money through affiliate marketing via your blog, or even monetize your social media with affiliate links. This is a great online business model for beginners as you don’t have to create any products or keep any inventory. You will need (or at least greatly benefit from) an email list, if you want to consider this model. Most affiliate sales will come from your list, not your blog or social media, but you can definitely start where you are and grow slowly.
Great affiliate marketing resources:
Making Sense of Affiliate Marketing
Funnels that Click (for building a list and automating sales)
The Affiliate Marketer’s Success Kit
Physical Products and Amazon FBA
It is also possible to sell physical products online with the help of other services. With the Fulfilled by Amazon (FBA) service, you simply ship your goods to Amazon. The sale and processing occur through the Amazon platform, as does delivery of the product itself. Amazon even takes care of the customer service. In other words, Amazon does a lot to complete the business. However, they do take a large share. Other methods of selling physical products online include dropshipping and opening an Etsy shop (where you can sell both physical and digital products).
Great Amazon FBA resources:
Free Ebook – Profitable Amazon Selling
The Ultimate Amazon Seller Course: Everything You Need To Be Successful With Amazon FBA
Create an Online Course
If you are an expert on a particular topic, then you should consider creating your own online course. This is not as difficult as it sounds, but you will still be responsible for marketing and promoting your course. Udemy is one of the most well-known online course platforms. With the increase in the price of tertiary education, more people than ever are turning to online courses for instruction. Udemy even offer a free course to potential new course instructors.
Great online course building resources:
Free Video Training: Create Your Course In A Weekend
7 Steps to Creating, Promoting & Profiting from Online Courses
Top 10 Best Online Course Platforms in 2021
Freelancing
If you have a marketable skill that can be delivered online, freelancing is a great way to earn extra money. You can work from anywhere and leverage your existing skills for compensation. Examples of freelance services you can offer include writing, proofreading, design services and virtual assistant services.
Great resources for potential freelancers:
Proofread Anywhere (FREE workshop)
Become a Virtual Assistant (FREE resources for current and potential VAs)
So what do you think? Are you using any of these business models? Any new ones you’d like to consider? Any questions? (just ask in the comments).
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Thanks for all the great links!
You’re very welcome, Martha. 🙂
Karen recently posted…3 Very Cool Experiences For Digital Nomads
You always curate such great info. Thank you!
Kandas recently posted…See Jane Blog Plus 5 Reasons Why You Should Blog, Too
I’m so glad that your think so, Kandas. Thanks for stopping by.
Karen recently posted…Signs That A Business Opportunity Might Be a Scam
Great business models! Thanks for listing the links to those resources.
I hope you find them useful, Jeanine. So much to think about when you’re considering expanding your offerings!
Karen recently posted…7 Easy Ways to Grow Your Email List
Great post! Thanks for sharing
It is true that your choice of online business model can have a huge impact on future success. If you want to choose a model that matches your skills, character and your lifestyle, here are top 5 business models that you can consider to secure financial freedom.
Sales Outsourcing recently posted…Crazy as a Fox! You Outsource your HR & IT, Why not Sales?
Worth reading article. Thanks Karen..
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